In a sigh of relief to Congress leader P Chidambaram, the Madras high court stayed reassessment and demand notices issued by the income tax department against properties belonging to him, his wife and his son's family.
A bench headed by Justice Rajiv Shakdher stayed the IT notices and posted the matter for further hearing on March 16.
On March 31 last year, an assistant commissioner from the Income Tax Department had issued individual notices to Chidambaram, his wife, their son and family alleging that income from their 200-acre coffee estate in Coorg had escaped assessment by authorities. The notice asked them to file the returns afresh. The family replied to the notice stating that the property had been declared six years ago.
Not convinced by their reply, the officer had slapped demand notices on each of the five family members directing them to pay up taxes of over Rs 5 lakh each.